Asset specificity, unionization and the firm's use of debt

Article Abstract:

A model was developed to assess the interacting effects of unionization and asset specificity on a firm's debt use. Results show that asset-specific investments affect the optimal amount of held debt through a collateral effect and an indirect effect. Asset-specific investments result in the holding of additional debt by a firm to offset exceptional wage demands by unions.

Debt & Capital Management, Management, Economic aspects, Finance, Corporations, Labor unions, Corporate finance, Financial management, Debt financing (Corporations), Debt financing, Assets (Accounting)

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Structuring residual income and decision rights under internal governance: results from the Hungarian trucking industry

Article Abstract:

A study exploring, the residual income and decision rights between the carriers and truck drivers, under internal governance, in a Hungarian trucking corporation, from the perspectives of, property rights and monitoring costs, is presented.

Trucking, General Freight Trucking, Hungary, Trucking & Courier Services, Ex. Air, Regulation and Administration of Transportation Programs, Trucking Programs, Analysis, Truck drivers, Right of property, Property rights, Cost (Economics), Costs (Economics)

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Residual income claimancy, monitoring, and the R&D firm: theory with application to biotechs

Article Abstract:

A study is presented to calculate the incentive structure for a manager of an R&D company like biotechnology companies, for monitoring the employees efficiently.

Science & research, Research, Employee incentives, Supervisors, Biological stations, Biological research stations

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